India's Ministry of Finance has issued Notification No. 50/2017/F, which was published in the 9 June 2017 extraordinary edition of the Official Gazette. The notification states that for years of assessment 2017-18 and 2018-19, when an international transaction does not vary from the arm's length price determined under ITA section 92C by more than 1% in the case of wholesale trading and 3% in other cases, such transactions will be deemed to be at the arm's length price.
International transac…